Great Wall has reportedly postponed its A-share listing till later this year partly due to concern over a slumping Chinese stock market.
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Great Wall, which in October 2007 announced a plan to issue up 121.7 million A shares in Shanghai, has now decided to delay its internal IPO target to September from May, a source told Reuters.
The source attributed the delay to China’s benchmark index that is now nearly 50 percent below last October’s record peak after a six-fold jump in a two-year bull run.
But Great Wall would not cut the size of the share sale, valued at up to HK$1.08 billion (USD138.6m) based on its H share price on Wednesday morning, the source added.
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